First Commonwealth Financial Co. (NYSE:FCF) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 43.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 286,934 shares of the bank's stock after purchasing an additional 86,587 shares during the quarter. Federated Hermes Inc. owned about 0.28% of First Commonwealth Financial worth $4,430,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of First Commonwealth Financial by 63.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,394 shares of the bank's stock worth $438,000 after purchasing an additional 11,040 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of First Commonwealth Financial in the fourth quarter worth about $789,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of First Commonwealth Financial by 4.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,086 shares of the bank's stock worth $912,000 after purchasing an additional 2,721 shares during the last quarter. International Assets Investment Management LLC bought a new stake in First Commonwealth Financial during the fourth quarter worth approximately $74,000. Finally, Assenagon Asset Management S.A. bought a new stake in First Commonwealth Financial during the fourth quarter worth approximately $1,269,000. 72.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FCF has been the topic of several analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $17.00 price objective on shares of First Commonwealth Financial in a research note on Tuesday, April 9th. StockNews.com cut First Commonwealth Financial from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Stephens reduced their price objective on First Commonwealth Financial from $16.50 to $15.50 and set an "overweight" rating on the stock in a research note on Tuesday, February 6th.

First Commonwealth Financial Trading Down 0.1 %

Shares of NYSE:FCF traded down $0.01 during trading hours on Friday, hitting $13.55. 396,922 shares of the company's stock traded hands, compared to its average volume of 518,874. First Commonwealth Financial Co. has a 1 year low of $11.16 and a 1 year high of $15.90. The business has a fifty day moving average price of $13.28 and a 200-day moving average price of $13.62. The firm has a market capitalization of $1.38 billion, a P/E ratio of 8.42 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.92 and a quick ratio of 0.92.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. First Commonwealth Financial had a return on equity of 12.89% and a net margin of 24.96%. The business had revenue of $116.60 million during the quarter, compared to analyst estimates of $119.80 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts expect that First Commonwealth Financial Co. will post 1.41 earnings per share for the current year.

First Commonwealth Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Thursday, May 2nd. This is a positive change from First Commonwealth Financial's previous quarterly dividend of $0.13. First Commonwealth Financial's payout ratio is 31.06%.

About First Commonwealth Financial

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (atm) services, as well as internet, mobile, and telephone banking services.